The Burbank-based Walt Disney Co. reported $23.65 billion in revenue for the third-quarter Wednesday, a 2% rise over the same quarter last year, powered in part by solid performance by the company’s streaming and direct-to-consumer services.
Disney’s direct-to-consumer revenue jumped by 6%, with the company adding 1.8 million Disney+ subscribers since the end of the second quarter, bringing the overall total to 128 million.
The company reported earnings per share of $1.61 for the third quarter, up from $1.39 in the same quarter a year ago.
The earnings figures were released amid a flurry of business moves by the company over the last two days, including the acquisition of NFL Network, the announcement of an Aug. 21 release date for its revamped ESPN streaming service and news that it will integrate the Hulu streaming service into the Disney+ service in the coming year.
“We are pleased with our creative success and financial performance in Q3 as we continue to execute across our strategic priorities,” Disney CEO Robert A. Iger said in a statement. “The company is taking major steps forward in streaming with the upcoming launch of ESPN’s direct-to-consumer service, our just-announced plans with the NFL, and our forthcoming integration of Hulu into Disney+, creating a truly differentiated streaming proposition that harnesses the highest-caliber brands and franchises, general entertainment, family programming, news, and industry-leading sports content.
“And we have more expansions underway around the world in our parks and experiences than at any other time in our history. With ambitious plans ahead for all our businesses, we*re not done building, and we are excited for Disney’s future.”